Building Alandmark the 100 West Liberty Building's Reno Connection from Left: Frank Gallagher, Senior Partner, Preston Q
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Building ALandmark The 100 West Liberty Building's Reno Connection From left: Frank Gallagher, senior partner, Preston Q. Hale, fOunder, and T.J . Day, senior partner of Preston Q. Hale Co. IE ADA BRIEFS 14 Beefing up Nevada's Cattle Industry 16 Industry Nevada ranchers have troubles piling up like haystacks -and a hike in New Reno plant producing federal grazingfees may be the last straw. The industry's bright spot may high-density polyethylene pipe. be a television starlet. 16 commerce special supplement Nearly 20 percent of Washoe NEVADA BUSINESS Journal County's new jobs have com e Welcomes The from foreign businesses. 41 Advertising 100 west Liberty Building Reno ad agency nets major Page S-1 national awards. 5-6 Building A Landmark 41 Finance The partnership behind the 100 West Liberty Building has melded the Accounting/consulting firms ideas of many into one stunning Reno landmark. It's a remarkable combine in Las Vegas. achievement and a remarkable building. 5-11 RoOm For Growth 42 Trade Unlike many cities across the U.S., Reno in not threatened by an offic e Nevada continues efforts to space glut. The 100 West Liberty Building is a welcome addition 10 the woo Pacific Rim business. city's skyline. Development 5-12 Putting Stock In Reno 43 Major active adult co mmunity Robert Dant came close to selling his parcel of land on Liberty Street in slated for Las Vegas. Reno. When PrestonQ. Hale convinced him to hold onto it, the 100West Liberty Partnership was born. 5-14 An All-star Uneup The 100 West Liberty Partnership wanted to build quality, so they put together a roster of the finest subcontractors available-many from right here in Reno. 5-16 !4 'Class A' Project All The Way The terraced design of the 100 West Liberty Building is only its most strik ing feature. Top quality materials, both inside and out, project a commit ment to excellence. 48 The Carson Valley: problems In paradise The small communities that dot the picturesque Carson Valley offer a warm, rural atmosphere. But they also offer a rural infrastructure-a big deterrent to new business. S2 Paradise LOst When high-tech Xebec opened shop in rural Gardnerville, most folks were ecstatic. The company trained some 2,000 people and created 500 jobs. It was too good to last. THE COVER: Frank Gallagher, senior partner of Preston Q . Hale Co. (left), 6 Silver Dome Preston Q. Hale, chairman (center) and 8 small Business Of The Month T.J. Day, senior partner, represent the Reno members of a five-man partner 10 Business Indicators ship that is building the 100 West liber 12 Stack Index ty Building. THE NEVADA BUSINESS JOURNAUOCtobef 1987 3 Nevada Business....., We've got the - ""' .... _~-- EDITOR IN CHI EF Henry C. Holcomb PUBLI SHER answers to Myra E. Holcomb ASSOCIATE PU BUSHER Jack Dyer yourdata MANAGING EDITOR Leslie Happ ASSOCIATEEDITO R Donna Maxw ell communications ART DIRECTOR NiCk Oomschot TYPOGRAPH ER needs. Dartene A.. Oswald CONTRIBUTING EDITORS Bob Belkna p Joe Bickett Sharon Cahill CocoOum Nevada Bell has a full range David Ho fstede JoBlen Dalton Johnson ofanalog and digital data Sieve ZUelke ART ASSOCIATE services to meet your Darl ene A. Oswald CIRCULATION DIRECTOR communications needs: Barbara Belshaw ADVERTISING OFFICES Northern Nevada - Advanceddigital technology, Jack Dyer 300B Baker DrIve includingan expanding fiber Carson City, NV 89701 network (702)883-56t 1 Southern Nevada Chuck Dandy - Datatransport ina wide range of 1641 E. Sunset Ad., Suite 8-117 Las Vegas, NV 89119 speeds (2.4 Kbps to 1.544Mbps) (702) 361·1065 Nat ional Representative - Dedicatedand switchedsystems New Vork The National Business Network 600 Third Ave. New Yo rk, NY 10016 For more answers and simple (212)687·7272 Los An geles solutions today, call your Nevada Bell Nat ional Business Netw orlo; 5705 canterb ury Drive Office at 811. Culver City, CA 90:230 (213) 21&0063 For add itional information reference Standard Rates and Data NEVADAt:tBELL,. '2OA·Business-Metro. State and Regiona l. NEVAO'. EUSlNESS .JourTW is ~ ~ 1Il APacific Telesis Company W;1 E.s.- Ad.. SuiIe & 111, L.. VllQ&S. NY 89119. ~.- $Z1oo pw~.1UtlnMter. SlncllIlI- _ ~ lei NEVAQ,o, IlUSINESSJcunlIl, 1&11 E. s.- RcL SuiIe&111, L.. v~ NV89119. must be secured 55 percent by a mo rt gage on a project. Grose says the loan corporation was set up by the National Association of State Development Agencies and is the most significant step taken by the na tional grou p. " While many have bemoaned the re The strictions on industrial development bonds and their probable demise, NASDA went out and did something about it. I believe Nevada has greater capital needs than most states, and this new source is most welcome," Grose Silver says. Gov. Richard Bryan says the loan program is " an excellent exam ple of a cooperative effort by state development agencies and the private sector to devel Dome op a new sou rce of business financing for the purpose of business growth and expansion." Insurance tives say it doesn' t appear feasible to in California Lottery's sure the operators of the vehicles instead Companies Shun of thier cars . Impact On Nevada New Coverage Tom Rohner of the California State Gaming Minimal Auto mob ile Association says his com tate Insurance Commissioner pany opposed the concept partly be There were some early concerns about David Gates says a new law let cause the insurance industry isn't set up the impact of the California lottery on tingpeoplegetauto insurance for to provide "people" coverage instead of Nevada's hotel-casinos and related tour Sthemselves instead of their vehi auto coverage. ism-based industries, but industry repre cles-to help cut costs for people with Gates says he is continuing to work sentatives say the novelty of the lottery several vehicles-hasn't done much with the insurance companies to con has worn off a bit, and tourists from good for the consumer yet. vince them to cover people instead of California are spending more and more Gates says the new law passed by the their autos. " I can't force them to pro money in Nevada. 1987 Legislature doesn't require insur vide the coverage. But we're trying to That comment is based upon state ance companies to sell the new type of bring some public pressure to bear on Gaming Board figures for the past fiscal coverage and none of the companies them to change their minds ," he says. year which show that Nevada's casinos have gone out of their way to offer it. too k in a record $3.71 billion from Gates also says he has warned the insur gamblers over the year for a 10.2 percent ers that if they do n't start providing the New Loans May increase over the prior fiscal year. coverageon their own, the 1989 Legisla The gain in taxable gross revenues ture may come up with a law mandating Help Fund before operating expenses and taxes are the coverage. Nevada Development ta ken out-is mo re than double the 4.3 But assemblyman Len Nevin, percent increase in fiscal 1986. D-Sparks, chairman of the Transports State Economic Development Direc The percentage gain is skewed some tion Committee that introduced the pro tor Andrew Grose says Nevada should what because of winter storms and posal , sayslawmakers purposelyleft out benefit from a new $100 million fund flooding tha t held the 1986 figures a mandate for the insurancecoverage in for loans of $700,OCO and up to projects down, especially for northern Nevada passing the law, apparently the only one that help create new jobs and finance clubs. But Control Board spo kesman of its sort in the nation. " II's ju st one small business growth. Har lan Elges says that even with that more option we ma de available to the American Development Finance Inc. factor the latest figures show "some real public, and I think if enough people ask was set up to make the loans through positive increases in the economy." for it the insurance companies will be state economic development commis Jerry Higgins of the Gaming Industry forced to provide it because of de sions around the country. Grose says the Association of Nevada says the overall mand," Nevin says. loans sho uld be at a rate close to the strong gains show that the California He adds that the mandate was left ou t prime interest rate for New York banks. lottery isn't the threat that some in because "that 's the only way we could Loans from the enterprise capital dustry watchers had feared. get the insurance companies' support." fund can run for up to 20 years, will re "Our people aren't talking about lot Some insurance compa ny representa- quire participation by a local bank and (Continued on page 44) 6 THE NEVADA BUSINESS JOURNAUOctober 1987 Executive Homes A Portfolio of Prestigious Living Styles For The Discerning Home Buyer For the executive andfamily looking f or something more image-enhancing than just a nice house, Nevada has many impressive dwellings to choose from-both new and previously owned. Homes that reflect the modern lifestyle of today's more affluent and sophisticated Nevada executive. NE VA DA BUSINESS Journal presents here a ph otographic portfolio of such homes. Please contact the Realtor direct, FOR ADVERTISING INFORMATION CAl.L. ,..'EVADA BUS!l\'ESS JOW7IQ/ 361-1065 u.i1~ &aresis.~ilur hour..curt: ~...;mam ,VJhm-:r you ..'WIt a vaca.n ~ or . fi,.~~ murntYtmni5 <:ourD and • dub Thisqualityheme in Q.Wl W ~.